No guaranteed formula will make you successful. Each vacation rental accommodation has its own method of grabbing the customers’ eyes. Overall positivity is the best you can do. But how will you drive in that positive energy? Here are 13 tips on doing so.

1.Vacation rentals should remain a business and not a hobby 

Remember that vacation rentals are not a hobby. If you are running it as one, chances are that you are limiting your growth. Treat this as a business and manage it professionally. You need to apply all the elements of a business. You need to treat your rental as a product, conduct market research, study your competition, etc.

Data-driven management in businesses aids in forming measurable goals and working towards achieving them. Even when something isn’t working out, you can understand the issue if you have a professional setup in place. You can also get yourself listed online as a business for more people to find you.

2. Invest in photography

When you have more photos of your property online, it gives buyers the confidence to book with you. They won't randomly book without seeing the place. Hence, when you invest thoroughly in photography, it will attract more customers. The ideal number is 20-40 verified photos. You can hire professional AirBnB photographers for this purpose. 

3. Improve occupancy rates with AirBnB Instant Book

Instant Book is what you want yourself to be marked with on Airbnb. This means that customers can directly book the property. They won’t have to wait for their request to be approved, etc. 

This will also improve your rankings on Airbnb and put you before your competitors. With high-quality photos and great descriptions, your rank will rise and you will have more chance of being booked. 

4. Think through your Cancellation Policy 

Your cancellation policy depends on the scale of your business. If you are on a pretty high level and have bigger and nicer properties, then you need a strict policy to make sure things are maintained. Such hosts won’t mind losing a few bookings since.

But if you have just started or have limited properties, you can go with a little liberal and flexible policy. 

5. Customer satisfaction should be your priority

What do people look at when they are booking a property from far away? They look for other people who have already been there. They check the reviews. Hence, customer satisfaction should be your priority. When they leave a good review, it will attract a lot of potential customers. 

When you have a single property, it is easier to tend to the customers and take care of their needs. But if you are on a larger scale, it will become a little difficult for you to manage. The data below shows how small-scale hosts provide better than the hosts with dozens of properties. 

If you are thinking about hiring someone else, like a manager, to manage your properties, you want to choose from the top-rated ones. You will need an efficient manager to ensure your customers are nicely taken care of. Only then they will leave noteworthy reviews. 

6. A smart way of charging cleaning fees 

It is a polarizing topic for hosts to discuss. Should they charge cleaning fees to certain inconsiderate customers? Or should they focus on keeping a low fee to attract more customers?

While there is no definite answer to this, you need to understand that your cleaning fees should align with the size of your property. This will make sense to the legit customers and they would agree to pay the same and not run off to the competitors.

While lower cleaning fees will attract more customers, adequate cleaning fees will allow you to maintain the property better. You need to make a choice or find a middle ground.

7. Dynamic Pricing 

A stable price never got anyone their desired revenues. You need to stay dynamic with your pricing based on the season and various other factors. For example, if there is a festival nearby, you need to up your prices for the time being. Off-season prices shall be lower than the normal rates. 

The dynamic Airbnb pricing will help you outperform your competition in the easiest way possible. 

8. Align your property type with your goals 

After putting up with the darkest days of the pandemic, people are looking for an escape. Most people are planning vacations with their friends and family. This results in them needing a big enough space to live and spend time together. 

We have observed that hosts with bigger properties are performing better than the ones with smaller, private areas. Hence, if you are located near friends and family tourist spots, you want to buy a bigger property. But if you incline more towards romantic getaways or secluded areas, private properties are for you. Thus, have a clear goal and buy properties accordingly. 

9. Cleanliness 

This has a significant impact on your ratings. The properties must be adequately clean for the customers. It is a basic norm that each host needs to follow. Besides the basic ethics of offering a clean space to live in, we observed that properties marked with cleanliness got 2.3% higher occupancy rates. Even the Airbnb reviews that reflect the cleanliness of the place have higher chances of occupancy. 

10. Offer top amenities 

Staying in a vacation rental isn’t just about finding a place to live. It is about the experience. And that experience comes from the amenities they get with the place. But don’t think that basic stuff like WiFi, linens and plushy towels will get you the stars. You need to go the extra mile. 

You need to offer something that will make your customers’ time at your rental worth it. For example, a jacuzzi, cozy fireplace, etc. check out the best Airbnb amenities to get more creative ideas.

11. Be pet friendly 

Why leave the furry friends behind? People love taking vacations with their pets. But if your property doesn’t welcome them, you will lose the customers. Have properties that are pet friendly and increase your revenue. You might argue that the maintenance work increases. But the pet fees cover it all.

12. Benchmark your property 

If you are looking forward to increasing your rates, you should benchmark your property against your competitors. You can connect your listing and create a custom comp set on MarketMinder and also analyze your booking performance score. The concept is similar to that of credit score except this is for your property. 

13. Stay unique 

Uniqueness and creativity is the basic requirement of each business. People choose their ideal vacation rental based on what new things they will experience there. If you blend with everything else, there isn’t anything distinctive about you. If you are looking for a new property, pick something exclusive. 

If you already have a property, look into the latest ideas to redecorate the place and add new things to do for your customers. Even minimal changes can change the entire experience. Good scents, plush interior, and adding a character to the place will do the magic. 

An ever-evolving industry 

Vacation rentals are a business with exceeding expectations and constant evolution. Every year people will want a new trend to show on Instagram. You will have to consistently stay on your toes to make changes, add elements, and make your customers happy. 

You need to drive your efforts into presenting your property in a convincing light along with comparative, dynamic pricing. Your business model will also play a significant role in sketching your image in the market. Focus on creating a positive experience for your customers.

FAQs

Q: How do I attract customers?

A: Build your online presence with high-quality photos, proper descriptions, etc. You can also utilize Instant Book.

Q: How to bag good reviews?

A: Take care of every little need of your customers. Customer satisfaction is the key. Also, add amenities to offer your guests an amazing experience. 

Q: How to improve my revenue?

A: Think of this as a business and not a side hobby. Leverage data and work with professionalism. Make calculated investments and work on developing the same.